Rreef Infrastructure (g.P.) Limited v. Kingdom of Spain

District Court, District of Columbia·Decided August 12, 2025·No. Civil Action No. 2019-3783·Published

Opinion

UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA

BLASKET RENEWABLE INVESTMENTS,

Petitioner,

v. Civil Action No. 1:19-cv-3783 (CJN)

KINGDOM OF SPAIN, Respondent.

MEMORANDUM OPINION

This matter is before the Court on Spain’s renewed motion to dismiss the petition to confirm an ICSID arbitration award that was entered against it in an investor-State dispute arising under the Energy Charter Treaty. Spain presently raises only “merits” defenses to confirming the award; it acknowledges that the Court of Appeals’ recent decision in NextEra Energy Global Holdings B.V. v. Kingdom of Spain, 112 F.4th 1088 (D.C. Cir. 2024), establishes the Court’s jurisdiction. For the reasons below, the Court denies Spain’s renewed motion to dismiss and grants the petition to confirm the award. I. Background As the Court explained in its prior memorandum opinion, see ECF No. 33, this case grows out of an investment dispute between the Kingdom of Spain and two infrastructure companies—a Jersey-based entity called RREEF Infrastructure (G.P.) Limited and a Luxembourg-based entity called RREEF Pan-European Infrastructure Two Lux S.A.R.L. ECF No. 1 (Pet.) ¶¶ 1–2, 11–13. Those companies, collectively known as RREEF, invested approximately €300.8 million in wind and solar power projects within Spain’s territory. Id. ¶ 7. But Spain later modified its subsidy

regime for renewable energy projects, thereby altering “the economic incentives on which RREEF had relied” and “substantially reduc[ing] RREEF’s returns.” Id. RREEF believed that conduct breached Spain’s obligations under the Energy Charter Treaty (ECT), a multilateral investment treaty that “establishes a legal framework in order to promote long-term co-operation in the energy field” and seeks to “creates stable, equitable, favourable and transparent conditions” for qualified investors. 1 Id. ¶¶ 8, 13. RREEF accordingly instituted arbitration under the ECT, and a tribunal constituted by the International Centre for Settlement of Investment Disputes (ICSID) ultimately issued an award requiring Spain to pay RREEF €59.6 million in damages, plus interest. Id. ¶ 19.

After receiving the award, RREEF petitioned to enforce it here pursuant to the ICSID Convention. 2 See generally id. Spain moved to dismiss the petition, on four grounds. See ECF No. 16 (MTD). First, Spain argued that the Court lacked subject matter jurisdiction under the arbitration exception to the Foreign Sovereign Immunities Act (FSIA), 28 U.S.C. § 1605(a)(6), because EU member states 3 allegedly are categorically prohibited from arbitrating disputes with EU nationals like RREEF. 4 Id. at 15–20. Second, Spain argued that granting the petition would

1 At all relevant times, Spain, Luxembourg, and the United Kingdom were signatories of the ECT. The United Kingdom has extended the ECT to Jersey, its protectorate. See Pet. ¶¶ 10– 11.

2 Spain, Luxembourg, the United Kingdom, and the United States are all signatories of the ICSID Convention, which obligates those nations’ courts to mutually enforce ICSID arbitral awards. See ECF No. 33 at 2–3; ECF No. 1-2 at 20. Again, the United Kingdom has extended the Convention’s application to Jersey. See ECF No. 33 at 3 n.2.

3 At all relevant times, the United Kingdom was a member of the EU. But petitioners have maintained throughout this litigation that, even if Spain’s intra-EU objection generally barred enforcement, it would not do so as “to [] RREEF Infrastructure[,] because Jersey, where RREEF Infrastructure is incorporated, is not part of the EU.” ECF No. 17 (Opp.) at 33; see also ECF No. 70 at 9 n.4.

4 Spain also argued that the Court lacked subject matter jurisdiction under the waiver exception to the FSIA, 28 U.S.C. § 1605(a)(1). See MTD at 20–23.

violate the foreign sovereign compulsion doctrine, both in light of the alleged bar on intra-EU investor-State arbitration and because EU law purportedly conditions the payment of “state aid,” including arbitral awards compensating for the revocation of subsidies, on the approval of the European Commission. Id. at 24–25. Third, Spain argued that the arbitral award was not entitled to “full faith and credit,” 22 U.S.C. § 1650a(a), again because the arbitral tribunal allegedly lacked jurisdiction both to hear the dispute and to order monetary relief. Id. at 25–26. Last, Spain argued that the Court should dismiss the petition under the forum non conveniens doctrine, since resolving any of its arguments against enforcement would in its view “require the Court to wade into complex matters of EU law and the ECT.” Id. at 2. In the alternative, Spain asked the Court to stay the case pending the ICSID ad hoc committee’s resolution of Spain’s application to annul the award. Id. at 3.

The Court granted Spain’s request for a stay without reaching its other arguments. See generally ECF No. 33. As the Court explained, judicial economy favored letting the foreign proceedings play out before adjudicating the merits of RREEF’s petition, since “Spain’s application to annul the arbitral award present[ed] many of the same arguments” as Spain’s motion to dismiss, and annulment of the award would “significantly impact” the U.S. litigation. Id. at 5– 6. The Court further ordered the parties to file regular status reports as to the progress of the annulment proceedings during the stay’s pendency, and denied Spain’s motion to dismiss without prejudice to its renewal after the stay was lifted. See ECF No. 32.

In June 2022, the parties notified the Court that the ICSID committee had denied Spain’s annulment application. See ECF No. 44. The parties proposed that Spain’s motion to dismiss, which it intended to renew, be decided based on the existing briefing, in addition to supplemental briefs that the parties filed in July 2022. See ECF No. 46. While Spain’s renewed motion was

pending, however, appeals were docketed in the Court of Appeals in three cases that likewise concerned efforts to enforce ECT arbitral awards against Spain, and thus presented overlapping issues with this case. The Court therefore left its prior stay in place pending resolution of those related cases.

The Court of Appeals issued its mandate in those cases in December 2024. It resolved them in a single opinion, holding, as relevant here, that (1) the FSIA did not immunize Spain from the companies’ enforcement suits because, “in ratifying the ECT, Spain provided unconditional consent to arbitrate investment disputes with the investors of at least some of the other signatory nations,” and (2) forum non conveniens was inapplicable because that doctrine “is not available in proceedings to confirm a foreign arbitral award.” NextEra Energy Glob. Holdings B.V. v. Kingdom of Spain, 112 F.4th 1088, 1102–04, 1105 (D.C. Cir. 2024) (quotation marks omitted). The Court of Appeals did not address, however, “the merits question whether [the ECT’s] arbitration provision extends to EU nationals and thus whether Spain ultimately entered into legally valid agreements with the companies.” Id. at 1104.

Soon after the mandate issued, the parties here filed a status report outlining their proposed next steps. See ECF No. 59. Spain asked the Court to maintain the stay pending the disposition of its forthcoming petition for certiorari in NextEra; RREEF asked the Court to lift the stay and decide the motion to dismiss after ordering supplemental briefing. Id. ¶¶ 6, 10–11. The parties agreed, however, that if the Court did lift the stay, adjudicating the motion to dismiss with the benefit of supplemental briefing was the appropriate course of action, and would “allow the Court to resolve all of [the] arguments necessary for entry of judgment.” Id. ¶¶ 6–7. The parties also agreed that the Court should grant RREEF’s pending (and previously opposed) motion to substitute

as petitioner Blasket Renewable Investments, LLC, the assignee of RREEF’s arbitral award. Id. ¶ 8; see also ECF 51.

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